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Support Ethereum Dapp Creation And Cooperation – What is P4D?
PoWH3D or P3D was one of the first hourglass style contracts that autonomously pays its token holders Ethereum dividends from buys, sells and transfers which are distributed proportionally to everyones holdings. P3D has seen huge success in it’s autonomous model but there’s one thing that stops it from being a ‘functional’ token which is important for developers; you can’t transfer and call a contract externally.
Let’s take the example of this exchange, if it could somehow accept P3D tokens it would make more sense because holders can just transfer it in but there’s a problem, the only method of transfer in the P3D contract is the standard ERC20 transfer() method, in P3D’s case there’s also a 10% tax on transfers. If you were to use this method to send P3D to this exchange, it would just transfer the tokens with no other action possible (there’s no callback for this contract to actually do anything with the tokens) that’s why a new method is introduced from ERC677; transferAndCall().
P4D implements this function call and it allows for external contracts to have tokens transferred to them as well as being able to assign a sender to the tokens which is super important for knowing who has how many P4D tokens in an external contract. In the P4D exchange, the only way to assign P3D to a sender is to just buy it from the contract with ETH and then convert that P3D into P4D using the same logic as the P3D contract.
After this point, the P4D exchange functions almost exactly the same as the P3D exchange but instead of paying ETH on sells and dividends, it now pays P3D. Any external contracts accepting P4D would now have access to 3 layers of cryptocurrency;
Can accept P4D tokens which can be used for services and pay P3D dividends as the P4D exchange gathers volume
Can sell or withdraw P3D tokens which can be held in the contract in order to earn ETH dividends as the P3D exchange gathers volume
Can use ETH from the P3D dividends to either utilize external paid services like Oraclize or just purchase more P4D (which also purchases P3D) in order to further increase the contracts holdings
On top of all of this, P4D has a 0% transfer fee simply because it’s designed to be used externally.
What can P4D do?
As well as being a source of volume for the P3D exchange contract (from buys and transfers), P4D is only limited to what a developer can create, transferAndCall() has an extra input of ‘bytes’ which means that basically anything can be sent as additional parameters (strings, addresses, numbers, true/false…) with the transfer and therefore anything is possible!
Demand for both the P4D token itself as well any dapps that use P4D tokens will help drive P4D’s and P3D’s value up simply because it now has a use other than being just a commodity.
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